Suma Soft predicts the latest trends in Mortgage BPO Services in USA

2024-04-20 07:05:51 News & Society

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Suma?Soft?s?Mortgage?BPO?services?has?been?
assisting?Mortgage?Lenders?to?efficiently?
accomplish?mortgage?origination,?processing?
and?underwriting.?Suma?Soft?has?developed?
a?tested?and?proven?integrated?mortgage?loan?
origination?process?that?ensures?collection,?
organization,?and?evaluation?of?required?
documents.
??
What?are?the?latest?trends?in?Mortgage?BPO?
services?in?USA?

Here?are?7?trends?or?we?say?processes?that?are?
being?outsourcing?in?Mortgage?industry?in?USA
?
1.?Stacking?&?Indexing??
? ? ? Split?of?documents?and?classification?of?
documents?as per?document?types

2.?Loan?Boarding???
? ? ? ?Entering?initial?information?from?1003,?
Income,?Credit,Title?&?all?disclosures?
available
3.?Pre-QC???
? ? ? ? Verifying?the?data?entered?in?Calyx?or?
Encompass360?
? ? ? ? &?informing?the?Loan?officer?on?
missing?documents?&?findings
4.?Third?Party?Documents?ordering?&?Reviewing??? Title,?Appraisal,?HOI,?FHA?case?etc.
5.?Initial?Submission?to?Underwriter??????
? ? ? ? ?Clear?Underwriting?Conditions?to?
take?the?loan?to?clear?to?close,?
Uploading?the?loan?package
6.?Post-Closing?Package???
? ? ? ? Creating?postclosing?package?as?per?
state?regulatory?guidelines
7.?Workforce?Management?Tool??
? ? ? ?Outsourcing?Mortgage?companies?that?
utilize?Workforce?Management?tools?
and?have?some?relative?industry?
? ? ? ?experience?that?keeps?your?company?
competitive?edge?
?
Suma Soft provides customized client-specific mortgage loan fulfillment solutions that reduce
costs, provide additional capacity as a fully compliant loan fulfillment partner. We can
also provide complete end-to-end mortgage loan fulfillment solutions or component-based
Mortgage BPO solutions.